Standard Chartered Special Foreign Investment Deposit Accounts (SFIDA)
What is SFIDA?
SFIDA or special foreign investment deposit account is one of the most attractive deposit accounts from standard chartered bank specially designed for foreign currency depositors. It’s the best way to enjoy higher interest rates on your money. What’s more SFIDA is exempt from income tax, withholding tax giving you a total tax free return.
How does SFIDA work?
There is no minimum balance requirement for this account. You have the option of maintaining a foreign currency account or converting your foreign currency deposit to Sri Lankan rupees and enjoying a higher interest rate. SFIDA accounts are exempted from income tax, withholding tax.
SFIDA - Guaranteed Return on your deposit
If you wish to maintain your deposit in Sri Lankan rupees we can allocate a conversion rate by booking ahead. Forward booking is a special mechanism introduced by standard chartered bank which allows you a guaranteed return on your deposit.
For more information on Remittances, email us, visit your nearest Standard Chartered Branch or call +94 11 2480 480